HRT Financial LP Purchases Shares of 66,976 Portland General Electric (NYSE:POR)

HRT Financial LP purchased a new stake in Portland General Electric (NYSE:POR – Get Rating) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 66,976 shares of the utilities provider’s stock, valued at approximately $3,281,000.

Other hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in Portland General Electric by 552.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 69,288 shares of the utilities provider’s stock valued at $3,395,000 after purchasing an additional 58,671 shares during the last quarter. Barclays PLC boosted its stake in shares of Portland General Electric by 35.8% during the 3rd quarter. Barclays PLC now owns 141,570 shares of the utilities provider’s stock worth $6,153,000 after acquiring an additional 37,334 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Portland General Electric by 14.5% during the 4th quarter. Raymond James & Associates now owns 270,850 shares of the utilities provider’s stock worth $13,272,000 after acquiring an additional 34,351 shares in the last quarter. Systematic Financial Management LP boosted its stake in shares of Portland General Electric by 4.1% during the 3rd quarter. Systematic Financial Management LP now owns 247,994 shares of the utilities provider’s stock worth $10,778,000 after acquiring an additional 9,664 shares in the last quarter. Finally, Atom Investors LP boosted its stake in shares of Portland General Electric by 18.2% during the 3rd quarter. Atom Investors LP now owns 38,663 shares of the utilities provider’s stock worth $1,680,000 after acquiring an additional 5,967 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on POR shares. Bank of America raised shares of Portland General Electric from a “neutral” rating to a “buy” rating and increased their target price for the stock from $47.00 to $52.00 in a research note on Tuesday, March 14th. JPMorgan Chase & Co. assumed coverage on shares of Portland General Electric in a research note on Monday, May 8th. They issued an “overweight” rating and a $56.00 price target on the stock. Wells Fargo & Company raised their price target on shares of Portland General Electric from $52.00 to $53.00 and gave the company an “equal weight” rating in a research note on Friday, February 17th. Credit Suisse Group raised their price target on shares of Portland General Electric from $48.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, February 21st. Finally, StockNews.com assumed coverage on shares of Portland General Electric in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $50.75.

Portland General Electric Stock Down 1.0 %

POR stock opened at $48.51 on Friday. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 3.01 and a beta of 0.58. The company has a current ratio of 1.02, a quick ratio of 0.89 and a debt-to-equity ratio of 1.21. Portland General Electric has a 12 month low of $41.58 and a 12 month high of $56.37. The firm has a 50-day moving average of $49.67 and a two-hundred day moving average of $48.50.

Portland General Electric (NYSE:POR – Get Rating) last released its quarterly earnings data on Friday, April 28th. The utilities provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. The company had revenue of $748.00 million during the quarter, compared to the consensus estimate of $622.50 million. Portland General Electric had a net margin of 8.88% and a return on equity of 9.06%. Portland General Electric’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.67 EPS. As a group, analysts forecast that Portland General Electric will post 2.68 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Monday, June 26th will be issued a $0.475 dividend. This is an increase from Portland General Electric’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, June 23rd. This represents a $1.90 dividend on an annualized basis and a yield of 3.92%. Portland General Electric’s dividend payout ratio is presently 66.30%.

Insider Transactions at Portland General Electric

In other news, VP Brett Michael Sims sold 2,050 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $47.00, for a total transaction of $96,350.00. Following the completion of the sale, the vice president now owns 10,978 shares in the company, valued at approximately $515,966. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP John Teeruk Kochavatr sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $51.12, for a total transaction of $153,360.00. Following the completion of the sale, the vice president now owns 15,489 shares in the company, valued at approximately $791,797.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brett Michael Sims sold 2,050 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $47.00, for a total transaction of $96,350.00. Following the sale, the vice president now owns 10,978 shares of the company’s stock, valued at approximately $515,966. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.

Portland General Electric Company Profile

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Portland General Electric Co engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. The firm also sells electricity and natural gas in the wholesale market to utilities, brokers, and power marketers. It also serves residential, commercial and non-residential customers.